It’s been a long time coming, but the law known as PASPA, which declared sports betting illegal in the United States of America, has been overturned by the US Supreme Court. Sports leagues in America had been strongly opposed to the countrywide legalisation of sports betting, and even President Donald Trump supported the PASPA bill, but ultimately the law has ended. Each US State now has the option of making sports betting available. However, while we can all guess how this will benefit the people in America who enjoy sports betting, how will it benefit the National Basketball League?
Sports betting is something that was only legal in the state of Nevada for close on a century, and understandably the level of illicit wagering had reached chronic heights. This is all revenue that could have found its way back into the NBA.
The Premier League in England is a perfect example of how best to utilise sports books to increase revenue. Like their football counterparts across the Atlantic the NBA would receive a major boost in revenue from sponsorships sure to become common sight. The league had never opened up team kits for advertising space, but the rules have now been changed by the league with teams free to take on shirt sponsors. With sports betting legal practice in the US, sports books will most definitely take up real estate on team kits.
Team kits are the most logical spaces for sports books to have their logo’s displayed, and the NBA will receive a considerate financial boost from this. Sports books will also likely sponsor the NBA as a whole. This will bring in extra revenue from television advertising, stadium sponsorships, event sponsorships and various others.
There is also the opportunity for the NBA to sell data to sports books and their live data analysts for live betting purposes. Selling this data will provide extra sources of income, while providing US punters with up to date betting markets.
Just as the Premier League has managed to become one of the biggest sporting brands across the globe, foreign investment has helped make it possible. The legalisation of sports betting will be sure to bring foreign investment to the NBA, as UK sports books and bookmakers from other European states currently waiting to move in. This investment is always delivered in large quantities and the NBA is in the business of improving the show.
It also means interest from foreign countries in terms of viewership. More viewers lead to better deals from broadcasting rights agreements, and increased profit shares for the teams in the league. The NBA will also receive a boost in viewership from within the United States itself, as up until now the viewership has only been for audiences wanting to enjoy the action, while only people in Nevada could actually bet on the games.
The league also competes with other sporting leagues such as the NFL and MLB. By getting in on the sports betting action first the NBA will be able to boost their promotional efforts and get a jump on the other leagues.
The NBA will most likely find multiple other benefits to having bookmakers investing heavily in the US market. Luckily for us it will be sure to take the spectacle that already exists to new heights.